Last year I started exploring how real estate will evolve in the decade ahead. I’d seen first hand the success of new residential communities like Hudson Woods taking cues from the Direct-to-Consumer and hospitality industries and observed the changing commercial sector with Co-living and Co-working brands emerging – packaging distinctive, shared, and engaging experiences at a decent price point. All against the backdrop of vast amounts of venture capital enable incumbents and new entrants alike to reinvent the way space is acquired, developed, sold, used, and operated.
I wanted to know: what’s next?
And then the coronavirus hit, the lockdown ensued, and the subsequent economic crisis made that thinking suddenly more urgent. Throughout history, pandemics have accelerated change. The professor, author and urbanist Richard Florida recently wrote that this pandemic should be seen as an opportunity to reshape cities in more equitable ways.
So what does this mean for our built world? We still live in a fog of uncertainty, with an undertow of anxiety. Our mood hovers between moments of clarity and caution. Our daily reflection can switch between – Push? Pivot? Pull? Or Pause?. So it’s hard to get a clear head. But here’s is where I think the opportunity lies.